STOCK LEVEL inventory quantity

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Seán Mythen

Updated on Jan 25,2023

STOCK LEVEL inventory quantity catalogs

Live Inventory Quantity Stock Levels - Shopify Coding Tutorial

hey everyone my name is shawn today i'm,going to be showing you how to display,your inventory live on your website so,let's take a look here i've selected,small and blue and we can see that i,have 65 available and i have a hard,faced emoji if i change my selection,here i'm out of stock with a sad face,here i have only five left for the,shocked face i can do this however many,times i like and so let's jump in and,see how we can create this ourselves,i also want to point out that we're,almost at 250 subscribers on the channel,i really appreciate everyone's support,and if these videos are helpful to you,and you're new to the channel please,consider subscribing the inventory,quantities that we're going to be,displaying on our website come straight,from the back end on our shopify product,pages if we scroll down we can see all,of these variants have inventory,quantities and this is the data that's,displayed on our website so let's see,how we can pull this data and display it,on our front end as always let's create,a duplicate of our live theme in this,case i'm using dawn let's go to actions,duplicate from there i've renamed my,duplicate live inventory quantity and,then let's go to actions and edit the,code for that theme,once we're in the code editor i want to,point out that there's typically a very,large javascript file in dawn's case the,file is called global.js and typically,when you're adding a functionality like,we're going to be adding today you would,do so in this file but because this file,varies from theme to theme,and not everyone is going to be using,dawn we're instead going to be adding,the inventory quantity functionality uh,completely from scratch and straight to,the product page file,so let's go up to our search bar and,type in product we're going to be,looking for a template file called,product and if you're on a newer theme,it'll end in json if you're on an older,shopify theme it will end in dot liquid,but then from here it'll tell us to go,to a main dash product file so in our,sections folder we can find that main,dash product and within this file we're,going to be able to find our add to cart,button which is the location right above,that button that i'm going to add my,inventory counter so if we go and right,click and open a new tab our preview i'm,going to go to my catalog and my,products so right here on the product,page if we either right click and,inspect on this button or if you're on,chrome you can press ctrl shift c,and from there you'll be able to select,different elements i'm going to select,my add to cart element and i'm going to,go up a little bit in the hierarchy on,the side here,and right here i see a data type of add,card form and i'm guessing this is,pretty unique this text so i'm going to,copy this text and from there i'm going,to search for it in my main dash product,file so i found it here and this is the,only occurrence of that,text so i know i'm in the right spot and,to be sure i'm going to go right,after this wh

The above is a brief introduction to STOCK LEVEL inventory quantity

Let's move on to the first section of STOCK LEVEL inventory quantity

#1 Stock Levels - Reorder, Minimum, Maximum, Average - BCOM / CMA / CA INTER -By Saheb Academy

#1 Stock Levels - Reorder, Minimum, Maximum, Average - BCOM / CMA / CA INTER -By Saheb Academy

hello everyone you're watching saheb,Academy if you like our videos then,please subscribe to our Channel and also,hit the bell again for the regular,updates and also follow us on Instagram,so have Academy now let's go to the,video hi everyone in this video we are,going to see this another topic of,material costing that is maintaining,stock levels maximum stock level minimum,stock level average stock level reorder,level and all that yeah so before going,into this stock levels first you have to,understand inventory control why because,maintaining quantitative stock levels,it's a method of inventory control,so first let's understand what is,inventory control and then let's see a,method of it yeah for see here the,definition of inventory control the SEMA,defines inventory control as the,function of ensuring that sufficient,goods are retained in the stock to meet,all the requirements without caring,unnecessarily large stocks simple so,here the basic goal of inventory control,is to maintain a balance between,sufficient stock and overstock yes we,have to maintain sufficient stock so,that our requirements can be fulfilled,what is the requirement the requirement,is that our production should be running,smoothly there should not be any,interruption and we should not lose any,money so we have to maintain sufficient,stock and we can't maintain you know,unnecessarily large stock overstocking,because if we do that then what will be,happening will be incurring lots and,lots of cost yes there will be a wastage,so there should be a balance between,sufficient stock and large stock yes,over stock that's the inventory control,now the management have different,different methods you know of doing,inventory control one of the method is,by setting quantitative stock levels or,you can say inventory levels yeah now,here we have to understand the stock,levels see here it's very simple first,we have got reorder level when to order,reorder quantity how much to order,maximum stock level up to how much,maximum to stop,yeah maximum and then minimum stock,level at least how much to stop right,this is the minimum stock level yeah and,then we have got average stock level,this is the stock that is normally kept,and,have got dangerous stock level this is,kept for emergency requirement okay,stock that is kept for emergency,requirement that is called dangerous,stock level at is below the minimum,level and then you have got buffer stock,now buffer stock is the stock that is,maintained,you know below the minimum level it's,not a level it's the minimum inventory,the minimum stock understood to mitigate,the sudden demand fine that is what is,buffer stock and then see here first,let's understand reorder level now,practically see here with the help of,this graph now in this graph we have got,stock level on the y axis and time on,the x axis fine so first what will be,happening is first let's say you have,this much stock in your warehouse and,then you will be sending out the,materials from yo

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Calculating Safety Stock: Protecting Against Stock Outs

Calculating Safety Stock: Protecting Against Stock Outs

hi guys Ian Johnson from driving success,calm today we're going to talk about,calculating a safety stock and in this,case we're talking about determining a,minimum inventory count in order to,protect your company against the high,cost of an inventory stock and when you,measure the cost of an inventory stock,out you're talking about lost sales lost,gross profit lost customers and lost,market share okay so a safety stock is,most often associated with min/max,however it also applies to JIT which is,why I put it in parenthesis because even,in just-in-time supply chains you need a,little bit of just in case inventory,okay so I'm going to go over these four,steps in terms of defining your,punishment time the daily consumption in,terms of your sales to your customers,safety stock and your actual delivery to,your customers once you generate sale,okay but before we get started on these,four points I just wanted to say that,there are a lot of calculations out,there there there are a lot of very,complex calculations that account for,all kinds of different variables,multiple vendors failure rates all kinds,of different things and we're accounting,for some of that in this four-step,process but I'm trying to simplify it as,much as possible because to be quite,honest with you it is a relatively,simple process and it comes from trial,and error the more you analyze it the,more accurate your safety stock level is,going to be okay so let's talk about,replenishment time you'll notice I,didn't put delivery time here because,your vendors delivery time to your,location is only one portion of your,replenishment time in this case we're,talking about the time it takes to,generate a purchase requisition to give,the proof to email it to your vendor the,delivery time from your vendor the,incoming inspection time and the time it,takes to put it on the shelf okay so,it's not just delivery time so in this,case the company has determined that,it's replenishment time should take six,days but of course they're going to,track the actual number of days in terms,of replenishment time so we've got five,shipments here six six six six and six,are the expected replenishment time in,terms of days and the actual are eleven,days nine days eleven days five days and,four days the variance is plus five plus,three plus five minus 1 and minus two so,the last two shipments were okay so in,this case we want to determine what the,replenishment time is and we want to,account for the variances so in this,case we're going to add up the variances,5 plus 3 is 8 plus 5 is 13 minus 3 is 10,divided by the number in the sample,portion which is 5 gives us 2 so we're,going to add 2 to our expected,replenishment time and again the more,the more shipments you analyze and the,more often you do this analysis the more,accurate your variance is going to be,okay so in this case we're coming up,with a replenishment time of 8 things,now this number means we must cover,enough inventory to support the,company's sales fo

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STOCK LEVELS (PART 1)

STOCK LEVELS (PART 1)

good day welcome to another session of,fog accountancy tutorials today we are,going to look at stock levels or what we,call inventory levels we are going to,understand how to fix these levels,in our organizations and then we are,going to use that to ensure proper,inventory management so that we don't,run out of stock and also to ensure that,customer demands are also met all right,so this is under accounting for,materials so inventories and then,over here i'm going to look at,these levels of stock and i'm going to,explain them to you we are going to look,at,the,reorder level,for inventory,we are going to look at the minimum,stock level,or inventory levels,and then also we have to look at the,maximum stock level,at least these are the major threats,that we are going to look at we also,look at,an average stock level,or inventory level,and then we can look at every other,quantity,which could also,push us to look at economic order,quantity,okay so like i said before we understand,fixing these levels right we are going,to look at the formulas and how to,calculate for these but what we have to,first understand is the main thread that,i have written okay the first the,regular level and the minimum stock,level what we are trying to say is that,as part of inventory management or stock,management in every organization we try,as much as possible to make sure that,our stocks are always in the right,quantity that inventory do not go beyond,a certain level,and that inventory do not fall below a,certain level,and that inventory should be ordered at,a particular time and that we expect,inventories to arrive in other words the,dynamics of inventory,should really be managed very well,because that is the backbone in fact,that is even why we are in business we,are in business to satisfy customer,needs with our inventory,and that is why we need to do proper,inventory management let me try and,explain this straight to you very well,for easy understanding what do we mean,by the reorder level and the minimum,stock level and the maximum stack level,i'm going to use a barrel to explain,that to you so let's take this,as a barrel,a barrel that contains water,now some of us we grew up in villages,okay and we use this kind of barrels a,lot,now many of you may not have seen it,before but i'm telling you it's a barrel,that we usually use to hold water or,store water for usage in a house when,we're in the village now,we were very young and,we had very short hands and we're very,short and so if you want to draw water,from this barrel with a cup now even if,your height will permit you to dip the,cap into the barrel you realize that,your hands may not reach the bottom of,the barrel because you are very small,what i'm trying to explain is that we,are the reorder level the minimum stock,level the maximum stock level there is,also an average stock a reorder quantity,and an economic order quantity,economic,all right now i'm trying to use the,barrel to explain to you now this is a,barrel

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[2022 Free] Show The Number Of Products Left In Stock In The Product Page - Easy Shopify Tutorial

[2022 Free] Show The Number Of Products Left In Stock In The Product Page - Easy Shopify Tutorial

bonjour shopify world my name is andrew,from ecom experts dot io,got the green hoodie so we're gonna do,some coding and in this video we are,going to,show you how you can display a little,message to say how many,elements there are left in stock we're,gonna jump in the code for this and this,is useful if you want to create some,scarcity and,push up your sales by showing how many,are there still left in stock,all right let's jump straight to our,online store,right here um so welcome in our little,online store let me first show you how,it currently looks i can go to,products,i will go to the color product because,i'm tracking the,stock on the color product so it makes,the most sense there,i do view,and as you can see i have no idea how,many black yellow and red are currently,in stock alright so i'm gonna close all,of that and we're going to,get to work in the description below,right next to the subscribe button you,will have a link,and on the link we explain to you,exactly what pieces of code you need to,paste,and where you need to paste them so i'm,just going to copy,that code from that document and paste,it inside before you start and this is,super important especially on this video,is that you make a duplicate of your,theme,if you're not gonna make a duplicate of,your theme stop right here stop watching,this video,it's not worth it don't even try we're,going to be playing,in the javascript and the chances of you,messing up in the javascript,are real by having a backup version you,can just always rely on your backup in,case you mess up and you don't have to,hire a developer and so you're gonna,save a lot of money so please,make a duplicate before you do anything,else we're going to do that,by going to online store or right here,and then on the online store we're going,to create on actions,and we're going to say duplicate,it's going to take a second and the,theme is duplicating as you can see,right here,and here is the duplicate version being,created,okay the copy is done and we are going,to be working on,this version right here so not on our,live version but on our duplicate,version,again in case we mess up it doesn't,affect the live version,great you got that okay great,so you can just click on actions right,here and you can click on edit,code welcome in the code editor and,right here on the left side we're going,to go down,to sections if you don't have sections,on your shopify store it is time to,update your theme,i don't have a video for that you're,going to have to contact your theme,producer the person that built your,theme and ask them how to update it,we do it for a fixed fee as well so you,can always reach out to us,anyway in these sections right here,we're going to go into,product template um,which is right here product dash,template,dot liquid we're going to click on it,and basically this is our product page,sort of,so the next element is we're going to,copy and paste the html code,saying how many items left in inventory,now it's kind of

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Inventory Planning and Analysis System in Excel | Auto suggest stock order quantity

Inventory Planning and Analysis System in Excel | Auto suggest stock order quantity

hello and welcome to smart office,youtube channel,and in today's video i am going to teach,you,how to create a sales and inventory,analysis,worksheet in microsoft excel if you see,in this,screen here you can see three different,sets the first one is,daily sales record here in this set,we record daily sales for example here,the name of the product are given,this is the product name pack size and,price of the product,and this one two three four means the,date,it starts from one end ends with 31,which are the dates in july 2020,so here in this sales we record,everyday cells if you see in this,second sheet it is inventory sheet,here we need to change the name,inventory,inventory analysis,here we analyze the inventory level and,we keep record of our inventory or stock,and this third sheet is monthly sales or,reference,i have calculated the average sales here,last three month average sales will auto,calculate,for example uh in this case we have,sales updated up to june,and the last three months average sales,is showing,the average figure of april may and june,here you can see the average is 339.6,which is 340 and the average is given as,340,and when you update the july figure this,average sales,will auto update when you put for,example if i put the july figure here,which is let's say 600,now you can see the average figure is,automatically changed,here you can see it is our auto change,and uh if you check here,when we update july figure now we need,to calculate average of may june and,july,so the average of may june angela is,487 and it is calculated 488,and if if we update the figure of let's,say august which is,589 now you can see the average figure,is changed,which is the average of june july and,august 589 in this way,i have used formula here and based on,this average cells we forecast our,inventory,here if you go in inventory sheet,the inventory status is given as,sufficient,here in this case we have sufficient,stock for,all product and our inventory policy,used here is keep at least one month,stock based on average sales,we we keep the stock of one month stock,for one month,based on this average sales figure,so this is our inventory policy and the,lead time is seven days it means that,when we provide order to our supplier or,the company,it takes seven days to receive the,actual physical product,which is known as lead time,so these these two are our inventory,policy,and this inventory status will be auto,calculated,we don't have to do anything here if,this stock level goes below then,here uh it shows,place order and here the suggested order,quantity is given,how much order should we place that will,be,shown here so in this way all the things,here in this inventory sheet will auto,calculate,and uh we are going to do,work in this three sheet here,and here in this video i am not making,the format i will just,show you how to use the formulas here,because this formatting is very simple,you can make this,if you know basic thin things in,microsoft excel,t

After seeing the fifth section, I believe you have a general understanding of STOCK LEVEL inventory quantity

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STOCK LEVELS (PART 2)

STOCK LEVELS (PART 2)

good day welcome to another session of,other accountancy tutorials today we are,continuing our lesson on,stock levels and then we are taking a,question on the first four formulas that,i gave in the part one and then we are,going to solve it together and then see,how it goes so without wasting my time,let us go straight on to the question,and then solve it,busy and cool,has the following details about its,stocks,so we have the maximum usage to be,twenty thousand units,maximum reorder period to be three,months,minimum usage ten thousand units,minimum reorder period,one month,normal usage,15 000 units,no mario that period two months,and then we have the reorder quantity to,be 30 000 units,you are required to calculate,all right reorder level,iii maximum stock level,third one minimum stock level and then,the average stock level,so this is a very simple question and,this is a very simple topic as well so,we are going to calculate now what i,want you to notice from the question is,that we are giving the units uh the,stocking units and then we have been,given delay time in months i just want,you to know so that your lead time,especially should be uniform if it is,given in yes make sure that they are all,in years that you are using calculate if,you are giving a month make sure that is,managed throughout there is one more,observation i want you to know now,instead of saying,average usage they told us normal usage,and their maximum usage is twenty,thousand,and then the minimum is ten thousand so,if you want to find an average ten,thousand plus twenty,will give you 30 000. if you divide by 2,that is 15 000. and that is exactly what,they have given us as a normalization 15,000 units so because we have been given,and when we divide is the same there,will be no confusion here there are some,questions where,even though your maximum,is twenty thousand,your minimum is ten thousand so if you,add it you have thirty thousand you know,that if you divide thirty thousand by,two your average should be fifteen,thousand,however the question may decide to give,you,normal usage,as let's say eighteen thousand,or average usage as eighteen thousand,now when you calculate your own average,usage you are getting fifteen thousand,but the question is telling you that the,normalization is eighteen thousand,please and please again,go by what the question has given you,even though you know it should be 15 000,that is the trick i want you to know in,the example be sure that what the,question has given you,is the same on even if it's not the same,just note that if the question gives you,the normal or the average use what they,have given you in rare cases where they,will not give you that is where you,calculate your own average but when the,question has given you the normal or the,average usage please go by what they,have given you we are fortunate that in,this question the average they give is,exactly the same as what we had from our,calculation and so there will be no,confusion but i'm

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Economic Order Quantity (EOQ) | Explained With Example

Economic Order Quantity (EOQ) | Explained With Example

welcome to contacts and this lesson,we're going to be looking at the,economic order quantity for the e or Q,what is it it is a model commonly used,to establish optimal inventory levels it,is used to manage inventory so this is,an inventory management tool that is,used to get just the correct inventory,levels that a company needs to have in,other words it is the optimum or the,quantity that a company should hold in,its inventory given a set cost of,production demand rate and other,variables this is done to minimize,variable inventor costs so the e or Q is,calculated for the ultimate purpose of,minimizing variable inventory costs so,let's look at this graph here which,explains a bit better whether yeoju,lives graphically the equation can be,presented as follows as the holding cost,goes up the holding cost of inventory,that is the cost of ordering the,inventor ego stuff you can see in this,graph here this line over here,represents the cost of holding the,inventory if it goes up the cost of,order in the inventory goes down as you,can see with this line over here there,isn't 4 that is that is because when we,hold more inventory in stock that means,we have all that more and the more,inventory order the less the cost of,ordering becomes but it only goes to a,certain point and we want that point,weight intersects and that is what the,eoq Q aims to calculate here over here,where they intersect and this is where,the e or Q would lie or the economic,your or a quantity like so how do we,calculate economic order quantity as you,can see from the formula over here the,EO q is calculated as the square root of,two times F times s divided by C times P,and this is a very simple formula which,if you remember it will help you in,calculating your Q in any question so,what does F stand for well 2 is the,number 2 times F F stands for the fixed,costs of placing and receiving an order,which would be a figure that should be,given to you whenever you're totally do,Q and S stands for the annual sales in,unit,and it's also very important when you,calculate in the eoq you to bear in mind,when are you using annual and when I,using weekly or whatever the case may be,so remember the S stands for the annual,sales in units so that is what you need,to bear in mind and then it's divided by,C where is C C is the carrying costs,expressed as a percentage of inventory,value so it's a it's it's it's a,carrying cost expressed as a percentage,of inventory value whatever that means,vector value is you take the carrying,cost divided by the inventory and you to,get to that percentage and then you,multiply that by P what is P P is that,touches price per unit the purchase,price per unit so these are figures that,you'll most likely be given you may have,to calculate some of them like the,annual sales in unit C may not be given,you may be given weekly sales and you,have to multiply that say by 52 weeks to,get the annual sales or you may may not,be given the percentage and you'll have,to calculate

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Reorder Point (ROP) Example Explained, EOQ

Reorder Point (ROP) Example Explained, EOQ

so what about reorder point I see a lot,of organizations using reorder point as,their methods of planning when to,release the next order into either the,shop or the purchase area reorder point,is based upon a target level and we'll,talk about this demand you leave x plus,safety stock where the target level is,equal to the demand per period and that,demand can either be historical demand,or you can actually go into MRP,underscore D and calculate the actual of,projected demand from MRP you then,multiply or adds a review period and the,lead time times that demand and add,safety stock and that will then give you,your target level so what you have on,hand - the target level is typically,what you're going to order now this,reorder point if we look at it in terms,of this graph we can see that you,consume products over time in this case,five periods of time and then the logic,is that you replenish inventory with an,order quantity and repeat the cycle the,curve that represents the demand is,basically small incremental decreases in,inventory we're talking about,thank you stock what we normally,maintain safety stock because this curve,sometimes goes this way sometimes go,this way so the safety stock is our,calculation against the fluctuations in,demand and then we order an eel queue,and based on lead time when the quantity,reaches this reorder point we want to,order out into the system so if we look,at some values if we started off with a,hundred you it,and we have 20 years of stages back with,a two period lead time we can see that,the reorder point that point in which we,would launch a new order is equal to 100,minus 20 equals 80 divided by the 5,periods of consumption these are going,to consume 16 period 16 years per period,so the demand through lead time is 16,times 2 or 32 and so therefore the,safety stock is the reor or the demand,through least 10 plus safety stock for,52 units so when the inventory reaches,that 52 point we launch an order out,into the system here's a simple real,calculation we've got 200 units per week,200 units of safety stock water plenty,of 2,000 and a 4 week lead time so you,can see that you could very easily,create a spreadsheet that has all these,parameters and automatically calculate,the reorder point for each independent,demand item here's some more to put a,reorder point concepts the order,quantities are usually fixed in order,words that yield QR that lot size is,normally the same reorder point is,determined by the average demand for,lead time so if you're going to use,reorder point you need to recalculate,demand every single month or every,single period the integrals between,replenishment are typically not constant,because that demand curve that we saw on,the saw to occur is not necessarily,constant and consistent the average,inventory is equal to the order quantity,minus 2 average plus 87 so reorder point,is fine at that top level that the,independent demand level it works fairly,regularly if you couldn't up put that,reorde

After seeing the eighth section, I believe you have a general understanding of STOCK LEVEL inventory quantity

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#2 Stock Levels - Reorder, Minimum, Maximum, Average - Problem 1 - BCOM / CA INTER -By Saheb Academy

#2 Stock Levels - Reorder, Minimum, Maximum, Average - Problem 1 - BCOM / CA INTER -By Saheb Academy

hello everyone you're watching saheb,Academy if you like our videos then,please subscribe to our Channel and also,hit the bell again for the regular,updates and also follow us on Instagram,so have Academy now let's go to the,video hi everyone this is the second,video of stock levels topic of material,costing chapter now in the previous,video first video of stock level chapter,we have discussed the concept of stock,level the concept of inventory control,and we have also seen the formulas of,reorder level maximum level average,level yes everything we have seen yes,now here in this video we are going to,solve this problem,see here's for a simple problem,calculate reorder level maximum level,minimum level and average level from the,following information so here we have,been given this information see here,reorder quantity thousand five hundred,units pre-order period four to six weeks,now what is reorder period reorder,period means what it means lead time,isn't it lead time yeah that is what is,a reorder period yeah how much time does,it take the supplier to deliver the,materials when you order right that is,the reorder period and then we have got,maximum consumption that is 400 units,per week,normal consumption 300 units per week,now what is normal consumption we didn't,discuss normal consumption in the,previous video,normal consumption is nothing but,average consumption yeah,normal consumption means what it is,average consumption understood right,then we have got minimum consumption 250,units per week fine so now first we have,to calculate the reorder level what's,the formula free order level see here,reorder level is equal to maximum,consumption into maximum latent as a,formula so we have that maximum,consumption see here 400 units per week,and then maximum lead time is what 6,isn't let's see a reorder period this is,a lead time now 4 is the minimum lead,time minimum reorder period and 6 is the,maximum lead time or maximum reorder,period so take 6 maximum lead time right,so 400 into 6 that is equal to 2400 yeah,so 2400 units is the reorder level when,our stock reaches at this level at 2400,units what are we going to do we are,going to place a fresh new order right,that is what is we go to level then we,have to calculate maximum,now what's the formula of maximum level,you remember see here it's a big formula,right that's how we remember it see a,maximum level is equal to reorder level,rol plus ro q yes there is an extra,element in the formula of maximum level,yeah maximum is the bigger formula so it,has extra element that is called roq,reorder quantity minus minimum,consumption into minimum lead time we,have all the information we need we have,reorder level we just calculated that,2400 units take that and then we have,reorder quantity also given in the,question reorder quantity that is,thousand five hundred units fine - -,then in the bracket what you have to,take minimum consumption into minimum,milli time minimum consumption is 250,units so 250 and

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